Procedure for appointment of first auditor

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Shweta Rathi (Querist)
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22 October 2012 Dear All,

My company wants to appoint first auditor in EGM, because its fails to comply with the provisions of appointment of first auditor in First Board Meeting.

So my question is, would there be any non-compliance on part of the company and do the company require to pay any late fees.

Moreover also let me know that form 23b is required to be file or not.

Ajay Mishra

Ajay Mishra (Expert)
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22 October 2012 Hi

No, As per latest circular issued by MCA you can file file Form-23B for the appointment of Auditor without additional payment.

Yes, in case of First Auditor, Form-23Bis also required to file.

It is the duty of auditor to file Form-23B and not by the company.

Shweta Rathi

Shweta Rathi (Querist)
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22 October 2012 Thanks sir,

But would the company liable for penal provisions under section 629A if it appoints first auditor in EGM and file 23B.

Ajay Mishra

Ajay Mishra (Expert)
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22 October 2012 Hi

I think, penal provision will not apply, because the proviso of section 224 (5) give an option to comply the same in general meeting if you have not appointed the same in Board Meeting.

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